REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
FORTVILLE LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
FORTVILLE LIMITED |
FORTVILLE LIMITED (REGISTERED NUMBER: 02365121) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FORTVILLE LIMITED |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 North End Road |
London |
NW11 7RJ |
FORTVILLE LIMITED (REGISTERED NUMBER: 02365121) |
Balance Sheet |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
FORTVILLE LIMITED (REGISTERED NUMBER: 02365121) |
Balance Sheet - continued |
31 January 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FORTVILLE LIMITED (REGISTERED NUMBER: 02365121) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Fortville Limited is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents net rents received. |
Investment properties |
Investment properties are revalued annually and included in the balance sheet at their open market values. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. In accordance with SSAP 19, no depreciation is provided in respect of investment properties. This represents a departure from Companies Act 1985 requirements concerning fixed assets. These properties are held for investment and the directors consider that the adoption of this policy is necessary to give a true and fair view. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - |
FORTVILLE LIMITED (REGISTERED NUMBER: 02365121) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2022 |
and 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
In the opinion of the directors, the open market value of the property was £5,108,531 on 31 January 2023. |
Fair value at 31 January 2023 is represented by: |
£ |
Valuation in 2016 | 1,748,400 |
Cost | 4,360,131 |
6,108,531 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Trade debtors |
Other debtors |
Managing Agent | 26,619 | 16,540 |
Prepayments & accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Amounts owed to group undertakings |
Tax |
VAT | 6,985 | 10,992 |
Other creditors |
Accruals and deferred income |
Rent received in advance |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans more 5 yr by instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 3,760,500 | 3,760,500 |
FORTVILLE LIMITED (REGISTERED NUMBER: 02365121) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans |
Bank loans and overdrafts are secured on the company's assets. |
9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 February 2022 | ( |
) | 933,285 |
Profit for the year | - |
Deferred tax | 97,418 | (97,418 | ) | - |
At 31 January 2023 | ( |
) | 955,179 |
10. | ULTIMATE CONTROLLING PARTY |
In the opinion of the directors the ultimate controlling party is the company's direct parent Lionrule Holdings Limited. |
11. | RELATED PARTY DISCLOSURE |
Other Debtors includes a loan due from Clevermatch Limited amounting to £143,550 (2022: £7,000). Mr Sheinfeld is the sole director & shareholder of Clevermatch Limited. |
Other Debtors includes a loan due from Garrickhall Limited amounting to £77,702 (2022: £76,100). Mr Morgenstern & Mr Sheinfeld are directors of Garrickhall Limited; and they each own indirectly 25% of the shareholding in Garrickhall Limited. |
Other Creditors includes a loan due to Lionrule Investments Limited, amounting to £21,404 (2022: £16,404). Mr Morgestern & Mr Sheinfeld are directors of Lionrule Investments Limited, and they each own 25% of the shareholding in Lionrule Investments Limited. |